Equities research analysts at Telsey Advisory Group assumed coverage on shares of MGM Resorts International (NYSE:MGM) in a research note issued on Wednesday. The firm set a “market perform” rating and a $39.00 price target on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 8.97% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Barclays increased their price objective on MGM Resorts International from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Zacks Investment Research lowered MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Bank of America raised their target price on MGM Resorts International from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Stifel Nicolaus reaffirmed a “hold” rating and set a $37.00 target price (up from $36.00) on shares of MGM Resorts International in a report on Wednesday, February 21st. Finally, Jefferies Group assumed coverage on MGM Resorts International in a report on Thursday, January 18th. They set a “buy” rating and a $43.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. MGM Resorts International has a consensus rating of “Buy” and an average price target of $37.94.

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MGM Resorts International (MGM) opened at $35.79 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $20,825.33, a PE ratio of 10.53, a PEG ratio of 1.75 and a beta of 1.45. MGM Resorts International has a 1-year low of $25.21 and a 1-year high of $38.41.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. MGM Resorts International had a return on equity of 5.78% and a net margin of 17.92%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 earnings per share. sell-side analysts anticipate that MGM Resorts International will post 1.39 EPS for the current fiscal year.

In other MGM Resorts International news, Director Alexis Herman sold 4,350 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $36.63, for a total transaction of $159,340.50. Following the transaction, the director now owns 3,935 shares in the company, valued at $144,139.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Taylor sold 12,536 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $34.67, for a total value of $434,623.12. The disclosure for this sale can be found here. Insiders have sold 142,646 shares of company stock worth $5,104,710 in the last quarter. 12.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of MGM. Crossmark Global Holdings Inc. purchased a new position in MGM Resorts International during the third quarter worth approximately $355,000. State of Tennessee Treasury Department purchased a new position in MGM Resorts International during the third quarter worth approximately $4,590,000. Prudential Financial Inc. boosted its position in MGM Resorts International by 1,762.5% during the third quarter. Prudential Financial Inc. now owns 667,921 shares of the company’s stock worth $21,768,000 after purchasing an additional 632,060 shares in the last quarter. Keybank National Association OH purchased a new position in MGM Resorts International during the third quarter worth approximately $265,000. Finally, Principal Financial Group Inc. boosted its position in MGM Resorts International by 1,231.4% during the third quarter. Principal Financial Group Inc. now owns 769,072 shares of the company’s stock worth $25,064,000 after purchasing an additional 711,307 shares in the last quarter. Institutional investors own 82.52% of the company’s stock.

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MGM Resorts International Company Profile

MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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